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EURUSD Technical Overview: Eyes on 1.13600 and German ZEW

EURUSD Technical Overview: Eyes on 1.13600 and German ZEW

EURUSD is pricing in a narrow trading range. As we have mentioned in our weekly forecast, 1.13600 remains a strong resistance. The downside is capped by EMA 50 and SMA 100 H4 Chart.

EURUSD H1 CHART BEARISH BUTTERFLY

 

On the smaller charts, Bearish Butterfly pattern is working. The pattern reached the second target.

German ZEW Economic Sentiment (Mar) is scheduled to release which may create an intraday volatility on the pair.

EURUSD is trading at 1.3444 as of writing. A worse than expected German data would send the pair below 1.13200 towards 1.12900.

A better than expected data may pull the pair back 1.13600 and 1.13800.

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

EURUSD: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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